I'm going to be a market maker with the IBFX white-label

Hi trading folks

I was on the IBFX website to open a demo account for a colleague of mine and saw something interesting for me

Who has experience with white-label marketing and product management?

Here http://www.ibfx.com.au/Partners/White-Label they offer a white-label solution.

Is anybody ready to help me a bit and have a closer market look to start a platform. I've some capital ready.

Or make use of their API solution.

I just got happy thinking about my own trading platform.

If I'm completely wrong, just take me back to earth

they want you to find costumers for them and you profit for every lot your
costumer put in the market.
So you need to put some Add's on Google f.x to find the costumers so from a trader you will be an agent .
If you are not requlated is deficult to find costumers?
Now to be requlated you must get brokerage license and to do so you must past a test (which is not an easy task) and so on
If you are les than 30 just try it
Remember nothing is more rewarding than trading if you do it well

Hi,

You may also need to set your support team too.. Some white label can be aggressive on spread or offer bonus? think about it ;-)

Regards
13

You've got to do your own due diligence if you want to be a broker.

You must be Series
Before you even think about the white labeling/platform, you and/or your company must licensed. You'll need to take the Series 3 and Series 34 exams. Both exams are administered by Financial Industry Regulatory Athority (FINRA) and cost something around $105 per exam. Its not an easy exam so you may have to take it a few times before passing.

Licensed and Registered
So you passed their Series License and ready to start your brokerage house. Not just yet slick. Now you must be license and certified with both CFTC and NFA. You'll need to register as a Futures Commission Merchants (FCMs) or Retail Foreign Exchange Dealers (RFEDs). Let me tell you, its not cheap to be on the right side of the law. There are yearly fees that must be satisfied and the fee are determined by how large your brokerage house is. So fee get larger as your company grows.

But before the NFA/CFTC will give you a FCM status, you must fulfill ALL the necessary requirements. Here are a few you need to read up on:

1. Annual FCM and RFED Requirements
2. Financial Requirements for FCMs and RFEDs
3. FCM Applicants
4. RFED Applicants
5. Anti-Money Laundering
6. Forex

Not trying to scare you, but all these requirements must be met before giving your Broker status. Annual Compliance, Financial Requirements, NFA Compliance, Money Laundering Compliance, and General Forex Bylaws and Compliance.

Please note, the Financial Requirements under Section 1 and http://www.nfa.futures.org/nfamanual...2011&Section=7.

You're a Broker!
You've completed the NFA/CFTC licencing. Congratulations, you are official a Broker. Next step, if you haven't done so already, you'll need a law firm and accounting firm on retainer. I can't stress this enough, please hire the services of both lawyer/accountants who know your industry as you'll need their counsel just about every month in the beginning. Why you ask? Well, NFA and CFTC likes to make these surprised visits in making sure your up to their compliance. They just love looking at your financial records too! You'll really love those days when CFTC reps spend a week or two going through your clients records, financial records, transaction records, bank records, etc. Don't forget about taxes, that too is when you'll need your lawyers/accountants on retainer.

Professional Office
Whats next you ask? An professional office of course. Where else do you think your employees will work? You need to house your operation. Large enough so all your employees can work comfortably as you'll need a few employees. Some of the most important employees you'll have working on a daily basis, isn't trader/analyst but a Compliance Officer (you must have on in-house. But you already know this as you've completed your NFA/CFTC licensing requirements), tech support personnel, customer support personnel, etc.

Technology & Security
Don't forget about technology and security. You'll need computers, internal servers, backup services, off-site backup storage, archiving (legally, you're never allowed to delete anything from email to customer information. It must be archived), secure storage, market feeds, internet/LAN, company web server. Don't get caught with your pants down like Sony. You'll need an iron clad internal and external system as you'll be housing your customers personal and financial data. Hacking attempts at brokers happen more often than you'd think. There's a lot of money and customers personal housed in all brokerage houses to make even the most experienced hacker gity.

It Doesn't End There
It doesn't end there unfortunately. Now you can apply for a White label solution with the broker of your choice but by now, I doubt you've put all this work in to sign up with IBfx, so you look into the like to Interactive Brokers, SaxoBank, Citifx, etc. You've made it this far might as well go with a reputable broker. But wait, signing up for a White Label solution isn't all that easy. Now you must satisfy the broker's requirements for obtaining White Label platform and negotiate on a fee structure. This could take months and its still not guaranteed you'll get the fee structure you want. So the shopping continues. Months past and you've met with 5 or so brokers non are willing to work with your requirements/demands. So now, you setting for some hack of a broker White Label solution who's offers are worst than the big guys but you're at your ends wit, so any broker would at this point.

------
This is all an example of what it take to become a broker. Not as easy as most expect and definitely more expensive than more are prepared for. Not to discourage you and all, but there is a reason why most of use get our Series 3/34 and become licensed Introduction Brokers (IB), Commodity Trade Advisers (CTA), or Commodity Pool Operators (CPO). For others, we continue our education, take the Series 30, Series 31, and Series 32 and become a Branch Manager for Goldman Sachs, Morgan Stanely, etc.

Sometimes its not worth becoming a full broker. If you have to patience, financial backing, and aptitude for the educations and compliance requirement, then maybe becoming a full brokerage house is for you.

Hello,

Thank you for our interest in the Interbank FX Private Label department! (also known as our white label department) A Private Label Partnership with Interbank FX can significantly enhance the value and revenue stream of your current or future retail online-trading business. Through the experience and success of building several global partnerships we understand how to help take your business to the next level.

While several financial firms are ready for the plunge into the private label business, others may prefer to engage in our Introducing Advisor (commonly referred to as “IB”) program as a step towards a private label partnership. If you currently have no clients trading in the markets you may want to consider this program first to more easily create a client base. You can sign up for this program by emailing [email protected]


One of the main advantages of Interbank FX’s Private Label Program is that we offer registered financial institutions the ability to provide online Forex Trading to their end customer base through multiple front-end Interbank FX’s solutions. Private Label Partners of Interbank FX will have the ability to offer Forex through award winning platforms to take their business into a higher level of industrial growth.


We would be more than happy to speak with you further about this and the necessary steps to take in order to participate in a White Label offering. Please contact us directly at [email protected].


Sincerely,


Ben Schneider
IBFX Global Sales

Jhig, what series license is necessary to seek employment at a forex brokerage at entry level? Does one need a sponsor to qualify to sit for the test? How start out in the forex business?
thanks for any help, Joe Harley